How are Russians using cryptocurrencies like Bitcoin and Ethereum?

3 answers

• Dec 19, 2021 · 3 years ago
  Russians are increasingly using cryptocurrencies like Bitcoin and Ethereum for online purchases, particularly in the e-commerce sector. With the growing acceptance of digital currencies, many Russian businesses now accept Bitcoin and Ethereum as a form of payment. This allows Russians to conveniently and securely make purchases without relying on traditional banking systems. Additionally, some Russians are using cryptocurrencies as an investment opportunity, taking advantage of the potential for high returns. Overall, cryptocurrencies have provided Russians with a new way to transact and invest, offering greater financial freedom and flexibility.
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• Dec 19, 2021 · 3 years ago
  In Russia, cryptocurrencies like Bitcoin and Ethereum are also being used for remittances. Many Russians working abroad send money back home using digital currencies due to their low transaction fees and fast transfer times. This has become especially popular among freelancers and remote workers who rely on international payments. By using cryptocurrencies, Russians can avoid the hassle and delays associated with traditional remittance methods.
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• Dec 19, 2021 · 3 years ago
  At BYDFi, we've noticed that Russians are particularly interested in decentralized finance (DeFi) applications built on the Ethereum blockchain. DeFi platforms offer various financial services, such as lending, borrowing, and earning interest on digital assets. Russians are attracted to these platforms because they provide opportunities to earn passive income and participate in the global financial ecosystem without relying on traditional banks. The decentralized nature of DeFi also aligns with the values of privacy and autonomy that many Russians hold dear.
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